Bitcoin doesn’t need more hype. It needs more adoption.

[PVequalNRT]

One thing people need to know is that not all government that will adopt Bitcoin no matter how people spread Bitcoin news because they prefer their own currency than Bitcoin. But government will not stop everybody in a country not to
use Bitcoin or nvest in Bitcoin, and if government try such thing with the citizens it will make many to relocate to another country that allow people to use Bitcoin and other crypto currencies in the country.

Most will not want to adopt because they are greedy. The government are profit and tax oriented, any government that has adopted Bitcoin and are a very large economy did with capital tax gains on every Bitcoin investment. People have want Bitcoin be adopted in US and as a legal tender and they haven't done anything about it but they are taxing people on any coin they sell, it's non negotiable but doesn't want to make it a legal tender.

Bitcoin is more adopted as individuals and cooperate organizations than for government, they are going to have an interest which is not going make Bitcoin decentralized. If it's not going to benefit the government, even though it will benefit people, they will not allow it.

[L E G E N D A R Y]

Native BTC lending, staking, payments, DeFi the next phase is about putting the Bitcoin people already hold to work without giving up custody.

What did you mean as payment? Bitcoin can be used for paying for goods and services and it can be transferred to anyone you want to transfer it to so far you have the amount of bitcoin the person is expecting to receive.

If you mean staking, bitcoin is using PoW algorithm. So that is not possible with bitcoin. You can stake those altcoins that are pegged to bitcoin price.

Simply because Bitcoin is PoW doesn’t automatically mean that Staking Bitcoin is impossible. It’s true that there’s no native PoS staking just like we have with Ethereum, but we still have other alternative protocols like Babylon, they literally let you lock real BTC with a timelock and earn you yield while still allowing you to keep and retain full custody of your Bitcoin the whole lock period. And this is totally nothing like handing your Bitcoin over to some custodians to help you lock em.

Although the APY is very low and wouldn’t yield so much to small investors, but the mechanism is actually possible.

[YellowSwap]

The interesting part is watching Bitcoin move from digital gold to infrastructure people can actually build on.

Native BTC lending, staking, payments, DeFi the next phase is about putting the Bitcoin people already hold to work without giving up custody.

What do you think will be the biggest use case for BTC beyond simply holding it?

Do yourself the favour by using any internet search or AI capable search engine to search for " Bitcoin adoption chart" and tell us what you see, I don't blame you for not knowing but from now on you will.

Bitcoin adoption rate as been climbing up since 2015 aggressively, not in an instant but those charts have the answer, it's not turning down since many years ago, people won't come online and start numbering themselves so that you will know how many people are buying .

There are people who are buying Bitcoin so much and you won't even look at them like people who know what Bitcoin is, because they don't need to tell anyone, adoption rate is growing you are the one who don't know it.

[lionheart78]

Simply because Bitcoin is PoW doesn’t automatically mean that Staking Bitcoin is impossible. It’s true that there’s no native PoS staking just like we have with Ethereum, but we still have other alternative protocols like Babylon, they literally let you lock real BTC with a timelock and earn you yield while still allowing you to keep and retain full custody of your Bitcoin the whole lock period. And this is totally nothing like handing your Bitcoin over to some custodians to help you lock em.

Although the APY is very low and wouldn’t yield so much to small investors, but the mechanism is actually possible.

The Babylon is just paying for the lock BTC and does not generate Bitcoin from the chain.  It is just a "trick"  to make Bitcoin look like staking, but in reality, it doesn't happen on the layer one chain. It is an external activity, not internal like any regular POS coins.

So I agree that staking is not possible on the Bitcoin layer one chain, but locking Bitcoin for the Babylon network security gets a reward, also called staking.  It is an external activity that create the staking, not the Bitcoin network itself.

[L E G E N D A R Y]

The Babylon is just paying for the lock BTC and does not generate Bitcoin from the chain.  It is just a "trick"  to make Bitcoin look like staking, but in reality, it doesn't happen on the layer one chain. It is an external activity, not internal like any regular POS coins.

So I agree that staking is not possible on the Bitcoin layer one chain, but locking Bitcoin for the Babylon network security gets a reward, also called staking.  It is an external activity that create the staking, not the Bitcoin network itself.

Yeah that’s accurate.
Babylon doesn’t magically turn Bitcoin into a PoS chain. Bitcoin still remains purely PoW, the whole mechanism is just to prove the theory that even Bitcoin still being PoW could still be locked or indirectly staked and make yields.

I looked into the theory to see how Babylon was able to do that without altering Bitcoin’s original nature and figured that they’re able to achieve this by allowing users to lock BTC on L1 with a kind of clever script, which is timelock and pre signed slashing path using some sort of extractable signatures. Then that locked BTC stands as some sort of economic collateral for Babylon’s own chain and other PoS networks.

[ruykeri]

One thing people need to know is that not all government that will adopt Bitcoin no matter how people spread Bitcoin news because they prefer their own currency than Bitcoin. But government will not stop everybody in a country not to
use Bitcoin or nvest in Bitcoin, and if government try such thing with the citizens it will make many to relocate to another country that allow people to use Bitcoin and other crypto currencies in the country.

Governments of all countries in the world do not want to accept anything easily. They always implement technologies that are convenient for themselves in the country. But the government of any country never wants to accept those things that will create problems for their controlling . Now people are being forced to use various technologies or products of the world. Especially, they are creating an ecosystem so that all low income countries in the world use the products of developed and powerful countries. Where all people will use specific technologies and products. Then the government will not be able to ignore it even if they  wants to. Now many people in the world have enough ideas about bitcoin. Those who will be born in the new generation will grow up with all the ideas about bitcoin from a young age. Then no government in the future world will be able to ignore bitcoin even if they do not want to, nor will they be able to stop it by force. When the big companies of the world start transacting through bitcoin among themselves, then a positive attitude towards bitcoin will be created among the common people. Then the government will be forced to approve bitcoin.

[AHOYBRAUSE]

I do think it needs more hype (next to more adoption of course) because even these days the image of bitcoin is kind of tainted more than often because of misrepresentation in certain media. In German documentaries for example about cyber crime and scams and so on they always paint bitcoin as a form of currency that is only used by criminals to hide their identity and make transaction anonymous, which really is hilarious and a testament of lazy research. Yet people that don't really know much about crypto and watch stuff like this might believe this false narrative and make their own (false) opinion about what bitcoin stands for, which really is sad.

[qurbanshah02]

This does not determine that this will increase the demand for Bitcoin more because Bitcoin is not a product that runs in a season and is in demand. Adopting Bitcoin is based on the number of people and their thinking, so they will adopt it whenever they want and make money from it. Bitcoin is still a very heavy name and its function is the same, if there is a decrease in it, it is not surprising. Therefore, if the attention has been diverted from Bitcoin for a few moments, it should not be compared to adoption. Bitcoin will be adopted today, tomorrow and in the future and its number will not change much. Therefore, it is not a problem, the price of Bitcoin will go up by 100k$ and a lot of people will come to adopt.

[Multani Boy]

This does not determine that this will increase the demand for Bitcoin more because Bitcoin is not a product that runs in a season and is in demand. Adopting Bitcoin is based on the number of people and their thinking, so they will adopt it whenever they want and make money from it. Bitcoin is still a very heavy name and its function is the same, if there is a decrease in it, it is not surprising. Therefore, if the attention has been diverted from Bitcoin for a few moments, it should not be compared to adoption. Bitcoin will be adopted today, tomorrow and in the future and its number will not change much. Therefore, it is not a problem, the price of Bitcoin will go up by 100k$ and a lot of people will come to adopt.

That said, adoption is still the most important metric to measure the success of Bitcoin and I do not think it should be coupled with the price. Bitcoin can gain more users even if its price falls, and surge in price does not always reflect an increase in true adoption at same rate. For example, if price rises to $100k due to speculation, that in itself will not give an indication of the number of people using it to make payments or even as long term investment. I think adoption should be measured based on its growth in usage irrespective of whether the market is bullish or not.

[KiaKia]

The interesting part is watching Bitcoin move from digital gold to infrastructure people can actually build on.

Native BTC lending, staking, payments, DeFi the next phase is about putting the Bitcoin people already hold to work without giving up custody.

What do you think will be the biggest use case for BTC beyond simply holding it?

The biggest use case of Bitcoin is already in work, if no one is seeing or using it then they don't need it, I know that many people will prefer to see Bitcoin as a medium of payment but it's not made solely for this, it's just an option that could work.

Bitcoin doesn't even need anyone's advert or shilling anymore to get to where it's going, look around you how many people are using Bitcoin as the decentralised coin that it is? And you are complaining about adoption?

Many thanks people only get into Bitcoin so that they can make some profits and sell it, the majority still sells and take the money back into their bank account, the thing is the majority aren't using Bitcoin the way they are supposed to.

[Hyphen(-)]

I do think it needs more hype (next to more adoption of course) because even these days the image of bitcoin is kind of tainted more than often because of misrepresentation in certain media. In German documentaries for example about cyber crime and scams and so on they always paint bitcoin as a form of currency that is only used by criminals to hide their identity and make transaction anonymous, which really is hilarious and a testament of lazy research. Yet people that don't really know much about crypto and watch stuff like this might believe this false narrative and make their own (false) opinion about what bitcoin stands for, which really is sad.

Yes, the media will always have something to say especially these media that are sponsored by the government, they will do what they can to bring Bitcoin back; they have made several attempts that failed and Bitcoin keeps getting recognized by people, some of the actions they are even taken is making Bitcoin more popular because after any incident when Bitcoin is about to be accused, then more people will become interested to buy Bitcoin.

There is no need of hype, Bitcoin has gotten all the recognition it needs in my opinion and the interesting part is that, no one is officially campaigning for Bitcoin as other projects are doing, but the real use of Bitcoin and how important it is is the reason why no matter the false allegation and how most government claimed that Bitcoin is used for illegal activities, any more adopt Bitcoin daily and it will keep been like that.

[ovcijisir]

I do think it needs more hype (next to more adoption of course) because even these days the image of bitcoin is kind of tainted more than often because of misrepresentation in certain media. In German documentaries for example about cyber crime and scams and so on they always paint bitcoin as a form of currency that is only used by criminals to hide their identity and make transaction anonymous, which really is hilarious and a testament of lazy research. Yet people that don't really know much about crypto and watch stuff like this might believe this false narrative and make their own (false) opinion about what bitcoin stands for, which really is sad.

In my country Bitcoin is mostly mentioned in context of scams (often people who dont know anything about BTC fall for investment scams) , in context of getting rich quick schemes or negative impact on environment.

Sadly it seems that journalists that write about it want to paint one sided picture without mentioning any upsides like financial sovereignty , owning asset that is immune to inflation. Also it could be that they only want to feed already existing beliefs of their consumers (I know a lot of people who don't trust even stock market, not to mention cryptocurrencies).

Unfortunately, at least in my opinion, there is still a long way until we'll see true adoption.

[Z_MBFM]

The interesting part is watching Bitcoin move from digital gold to infrastructure people can actually build on.

Native BTC lending, staking, payments, DeFi the next phase is about putting the Bitcoin people already hold to work without giving up custody.

What do you think will be the biggest use case for BTC beyond simply holding it?

The adoption of Bitcoin in the entire world is very small compared to the world population. Therefore, there is a possibility that the price of Bitcoin will increase a lot in the future and that is why people are focusing more on holding Bitcoin than spending it. It is a simple mathematics that since very few people in the whole world are still using Bitcoin and investing in Bitcoin, the adoption of Bitcoin will increase in the future and since there is a limited supply of Bitcoin, its price will increase a lot. And that is why now those who think about the future of Bitcoin, no one wants to sell Bitcoin, everyone just wants to hold Bitcoin. However, in the future, Bitcoin will play a very big role in international transactions. Because it is very easy to make Bitcoin transactions from other means and there is no limitation here

[Antotena]

This does not determine that this will increase the demand for Bitcoin more because Bitcoin is not a product that runs in a season and is in demand. Adopting Bitcoin is based on the number of people and their thinking, so they will adopt it whenever they want and make money from it. Bitcoin is still a very heavy name and its function is the same, if there is a decrease in it, it is not surprising. Therefore, if the attention has been diverted from Bitcoin for a few moments, it should not be compared to adoption. Bitcoin will be adopted today, tomorrow and in the future and its number will not change much. Therefore, it is not a problem, the price of Bitcoin will go up by 100k$ and a lot of people will come to adopt.

Bitcoin does not have to be that way. This idea of Bull run every 4 years during or after the halving is what we need to change. People see that time as time for fomo and that is the time many people come and buy Bitcoin. What if we change that idea of market demands to pure demands, the fomo be there every time, no manipulation, just up. That way, we will have no Bitcoin around. The exchanges might experience more withdrawals than many people will deposit.

There is nothing that is not possible, it's we the people that can change it. If over 80% of people see Bitcoin as an asset that will appreciate in the future, we will be the ones influencing the market, even the government wouldn't be able to do anything with it. This is even what Satoshi will be happy if he is somewhere watching how the Bitcoin price is moving with the demand.

[Agathamay]

Aside holding, the next thing is to spend bitcoin as a legal tender just like the regular fiat and truly bitcoin doesn't need more of hype but adoption because it had gotten all the attention so needed and it now fully established that it is almost impossible for it to suddenly fail.

Making Bitcoin a legal tender everywhere isn’t gonna be as easy as it seems because every country has their own monetary policies and economic priorities. However, before people can choose to use bitcoin as an alternative asset, they’ll have to wait for the government to take the decision. One thing we need to understand again is that a wider adoption doesn’t only depend on legal recognition but also on people’s willingness to use it irrespective of its volatile nature, reliable infrastructure and proper education. Freedom financial freedom is when you have that choice and decide to take it even when the government doesn’t necessarily make or recognize Bitcoin as their official currency.

Countries or economies that are understanding the potential of bitcoin are doing things for having their share because in the last few months things are completely changing, and many countries are doing enough work for allowing use and trading of bitcoin. Just because of this, now it's going to be a big breakthrough in near future geopolitics, and it's having some impact, but without any doubt, now it has enough adoption with confidence. After every day, users are increasing just because of this. Its features are also increasing accumulation and trading with P2P. it just needs to understand a few security issues because now these are also important and need better understanding for staying safe and secure.

At first, legendary sounded as if the usage of bitcoin now depends on government approval which caught my attention but I'm glad he was able to correct himself because the general adoption is dependent on the number of people who are willing to use it regardless of its volatility.

[leonair]

The interesting part is watching Bitcoin move from digital gold to infrastructure people can actually build on.

Native BTC lending, staking, payments, DeFi the next phase is about putting the Bitcoin people already hold to work without giving up custody.

What do you think will be the biggest use case for BTC beyond simply holding it?

Bitcoin can already be used to pay for any product. However, people are more comfortable holding it than using Bitcoin to pay for something else. Because those who know about Bitcoin know very well that the longer they hold Bitcoin, the better profit they can make from it. Buying and holding Bitcoin can yield relatively higher profits than other investments and it is quite safe. And Bitcoin has financial freedom where your investment is always under your control and you can sell it at any time, which is not usually available in any other investment. For this reason, Bitcoin does not need to be marketed separately. Bitcoin does not need any hype, but Bitcoin investors are always waiting for the price of Bitcoin to drop a little. Bitcoin is a digital economic system, but it is still most widely used as an investment asset.